Is Canary Wharf property really worth nearly £2,000 per square foot?

Having worked in and around the Canary Wharf area for over twenty years, I am used to having to constantly raise my ceiling price (the maximum price that I believe a certain type of property can sell for in a certain area).

When I started in real estate in the Docklands, for example, Galliard Home had only just completed selling their Burrells Wharf development. Prices for one bedroom flats were around £65,000 upwards. Over the years prices in the E14 postal code have taken off at an alarming rate. So much so, that now in 2016, when developers talk of one bedroom apartments in excess of half a million pounds, I barely raise an eyebrow.

When I came across this property being advertised on Rightmove, not only did both of my eyebrows raise but I very nearly fell off of my chair.



I know The Wardian is a very special development indeed. It is within short walking distance of the Canary Wharf estate and its specification is nothing short of spectacular.

The views are bound to be amazing:


And, of course, there is a cool gym:


But what, you may ask, has caused my face-altering, office-furniture exiting reaction? Well, you may have guessed, its the price. This 548 square foot apartment has a price of, wait for it..




Its a big number....






Drum roll, please..